Labcorp (NYSE:LH) Reaches New 1-Year High – Time to Buy?

Labcorp Holdings Inc. (NYSE:LH) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $297.32 and last traded at $296.8810, with a volume of 77534 shares traded. The stock had previously closed at $281.46.

Analysts Set New Price Targets

Several research firms have recently weighed in on LH. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. Bank of America lifted their target price on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research report on Wednesday, April 8th. Robert W. Baird upped their price target on shares of Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.40.

Labcorp Stock Up 4.9%

The business has a 50-day simple moving average of $267.72 and a two-hundred day simple moving average of $268.63. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

Labcorp (NYSE:LH) last released its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the company posted $3.84 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s payout ratio is currently 25.51%.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the transaction, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the transaction, the executive vice president owned 6,746 shares in the company, valued at approximately $1,930,637.74. This trade represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Labcorp

A number of large investors have recently modified their holdings of the business. Wedge Capital Management L L P NC lifted its holdings in shares of Labcorp by 1.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 109,674 shares of the medical research company’s stock valued at $30,709,000 after buying an additional 1,842 shares during the period. Tema ETFs LLC grew its holdings in Labcorp by 8.2% during the second quarter. Tema ETFs LLC now owns 1,907 shares of the medical research company’s stock worth $534,000 after acquiring an additional 145 shares during the period. Handelsbanken Fonder AB grew its holdings in Labcorp by 4.8% during the second quarter. Handelsbanken Fonder AB now owns 28,208 shares of the medical research company’s stock worth $7,898,000 after acquiring an additional 1,282 shares during the period. Wealthcare Advisory Partners LLC raised its position in Labcorp by 8.1% in the second quarter. Wealthcare Advisory Partners LLC now owns 2,500 shares of the medical research company’s stock worth $700,000 after acquiring an additional 188 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new position in Labcorp in the second quarter worth $33,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.